Delta Air Lines (DAL) PT Bumped to $55 at UBS Following Management Meetings
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Rating Summary:
26 Buy, 4 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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UBS analyst Darryl Genovesi reiterated a Buy rating and bumped his price target on Delta Air Lines (NYSE: DAL) to $55.00 (from $53.00) following meetings with management, which had a positive tone.
Genovesi commented, "We spent two days marketing with DAL CFO Paul Jacobson and IR Director Winnie Smith, where discussion focused on plan to stabilize unit revenue (PRASM) by year-end, complete its $5B share repurchase authorization early if fuel and valuation multiple remain low, continue to build-out Asia/Latam networks through recently-announced China Eastern and Gol investments, maintain <$3B capex and <2% CASM-ex growth trends, and capitalize on new revenue opportunities including branded fares initiative and amended Amex agreement that DAL sees contributing a combined $3B+ in incremental revenue through 2018 with most of that dropping through to EBIT."
For an analyst ratings summary and ratings history on Delta Air Lines click here. For more ratings news on Delta Air Lines click here.
Shares of Delta Air Lines closed at $44.34 yesterday.
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